Since technology is revolutionizing the way we saw the world once, its roots are getting strong in every domain. It is not limited to just computers and other technological gadgets. You can see its implementation in education, tourism, medical, retail, and many other domains. Now, that we don’t depend only on tangible money, one can see many virtual currencies getting fame all over the globe. This has forced the countries to make regulations for these currencies to regulate and manage them better. Have you ever asked yourself what is fintech and what is the role of fintech in mobile app development? How is it changing the world? How can you become a part of this revolution by introducing an app of your own?

What is Fintech?

Even though fintech has become a part of everyone’s daily routine, most of us still do not know it by name. Before we get into the details of sharing the ways you can have a fintech app developed for yourself, let’s understand what fintech actually is. Financial technology or more commonly known as fintech is the merger of technology and finance industries. It is driven towards automating daily life financial procedures and processes to improve financial services.


The basic purpose of this industry was to be a helping hand to businesses that want to grow by managing their operations of finance and its processes. It also aimed to make it easier for businesses to connect with their customers and provide them more financial liberty. This industry has given birth to many mobile and web applications to serve both, businesses and consumers, with the best financial solutions

Some Stats About Its Growth

When we say that fintech has become a hot trend, we are not lying. During the first six months of 2020, fintech companies raised almost $25.6 billion as their funding from all over the world. Just imagine this happened even when the world was covered in the blanket of Covid-19.

If we talk in terms of the growth of fintech, a study revealed that around transactions worth $1.1 trillion more are done in the year 2020. The number of fintech transactions is expected to grow only. One interesting study found that more than one-third of the fintech industry is dealing in places outside the biggest tech giants – China, the US, and the UK.

Since the majority of people like to use mobile apps, about 45% of the transactions today are made through apps built on fintech. Given the growing usage of fintech to pay and the interest of the consumers in it, a study has suggested that around 80% of the existing non-fintech companies would be moving to fintech solutions. In the light of all these statistics, we trust every business should start investing in fintech to gain more benefits and customers in the future.

Influence of FinTech in our Lives

The first thing that is transformed by fintech is our conventional banking. Fintech has revolutionized the way banks used to operate and customers interacted with banks. As the customers want a seamless experience that is easily portable as well, mobile apps in the banking industry were introduced. These mobile apps are backed with smart fintech solutions.

The tourism industry is one of the most famous and biggest industries in the world. Some countries earn more than 60% of their revenue just from tourism. This is the reason why fintech was involved in the tourism industry in the form of rental apps and tour planning apps. The rental apps provide consumers the option to surf for different places, hotels, and vehicles to decide and pay for the one they desire. Moreover, the tourism apps empower the users to decide their place of origin and destination to book tickets by paying.

Fintech also aims to make businesses grow beyond their expectations. It is mostly focused on helping small and medium-sized businesses to apply for loans at various online banks. These banks offer loans to businesses with lesser interest, more payback time and the processing is faster as well. Fintech is used to fetch the previous data of the customer and help the banking staff to see the prediction for the business to pay back the loan at the decided time.

While we have shared just a few examples, fintech is influencing our lives, we bet you have some in your mind as well. Fintech can be seen doing wonders in a lot of other industries as well. From grocery shopping to education, medical to travel, and banking to delivery, fintech is a part of every industry. It has blended in so well that no one can imagine their lives and apps working smoothly without it.

Features to Add in FinTech Apps

features to add in fintech apps


After artificial intelligence and machine learning, industry experts have their eyes on AR/VR to be included in fintech apps. The majority of the companies have already started accepting AR/VR and are trying to make them a part of their solutions. A study has revealed that this trend is expected to spread across the globe by the end of 2022.

AR and VR are expected to improve user experiences through advancements in UI. Moreover, these elements will make the app more engaging and fun for the users. This will also help businesses to be more efficient in providing solutions while cutting on the additional costs. If we talk about a shopping app, VR will help the consumers reduce travel and see all dimensions of the product before placing an order.


The mentioning of wearables makes a lot of people excited since these are tangible things with the best experiences. Smart wearables like smartwatches, fitness bands, and trackers have already changed our lives so much that humanity is addicted to them. However, if you believe this is the full potential of smart wearables, you are wrong.
A study showed that by the end of 2022, around 25.3% of adults in the US adult will be seen using some sort of wearable technology. All fintech apps are expected to introduce wearables of their own for better user experience and branding as well. This will ensure that more fintech apps are developed keeping wearables and their integration in mind.


Artificial intelligence has already been taking over the world and the fintech industry is no exception. Most of the fintech mobile apps use AI to some extent, however, there is still a lot AI can do. Companies are expected to use AI to make their apps break tasks into simpler forms, consume less processing time and power.

Fintech apps of the coming era are supposed to have better recommendation mechanisms helping consumers by giving more financially sound recommendations for products and items based on their needs. These applications can also introduce AI guiding the users to process refinancing a loan in a better and convenient way.
It can be clearly seen that AI is here to make the fintech industry innovate and improvise in a better way. With the rapidly growing and complex data, it is possible that AI will offer more opportunities for businesses to grow further by creating analytics with no need for manpower.


Security has always been one of the topmost concerns of users when it comes to technologically smart apps. Where these apps make the lives of their users easier, it is not too difficult to hack systems and get into the private details of the users. This is why the fintech industry like all other industries has been trying to make its approach safer for the users.

A lot of mobile banking apps have included biometrics verification as a part of their apps to save users from getting scammed in any way, however, that is not all AI has to offer. According to the experts, in the coming years, mobile apps would not just be providing fingerprint biometrics but eye scanner and other sorts of verification as well.


The use of blockchain has already empowered the fintech industry a lot and we are still seeing some wonders. Since we are becoming a society that operates very less on cash, blockchain is here to stay and give some more exciting ideas. Soon 50% of the banks all over the world would be using technology in almost all of their processes by the end of 2023.

When talking about the employees of this industry, they believe that their departments will be improving their transparency policies and sharing the much-needed information with the customers as well. The use of blockchain in more than a few ways is expected to limit the centralized procedures and eliminate a lot of risks as well. It will make the whole procedure of transactions safer, efficient, and better than ever.


Just like fintech, regtech is also a new term invented recently but has touched a lot of lives already. Since it is not easy for governments to manage the flow of virtual money by applying regulations of tangible money, the domain of regulations has evolved. Now, the merger of regulations with technology has made it possible for governments to better manage and regulate virtual currencies.
It was expected that in 2021, we would see blockchain technologies and similar trends taking over the world. If we would be honest, it has delivered more than we ever thought! The experts in the industry are taking note of the interest of legal stakeholders in the fintech industry and have suggested that by the end of 2023, regtech would become more efficient, better and we will have more laws. Hence, coming fintech advancements will be regulated by specific regulations from day 1.

Voice Assistance

After Google and Apple introduced their voice assistance, the world has gone crazy for it. This forced a lot of companies and businesses to put their money to develop voice assistance for their apps and websites as well. We can expect to see voice assistants working for the customers of various banks as well. They will be designed smarter to answer various questions, learn from the responses of the customers and make amendments in responses.

We can expect to see voice assistance merged with biometrics and allowing the users to speak for biometric verification. We understand that it is a long shot and would be difficult to achieve, but experts have their trust in technology.

Beacons with Fintech

Even though beacons are not something new, but they have started to get the attention of the industry just now. You can see them being used in multiple industries including healthcare, education, e-commerce, hotels, and many others. However, the fintech industry has not welcomed beacons yet, but that is about to be changed.
Fintech apps soon will be having beacons integrated with them that can be installed. They might allow the users to have their activity of expenditure tracked for better suggestions on finance management. Moreover, they can also receive similar recommendations for the products of their choice. Users will get all the desired information within their comfort zone without having to move much. These are expected to be chips empowered with AI and ML.


If you have no idea about the budget and still have to figure out the way to have the app developed, we have a solution for you. We would encourage you to have your fintech apps developed by Origami Studios. It is years old app development company housing the best and experienced app developers. These developers have years of experience in developing apps just according to the needs of the users ensuring a good download rate. If you want an example, let’s tell you about an developed by Origami Studios that has hundreds of satisfied customers.

XFAR is a fin-tech application developed by the experienced and well-equipped team of Origami Studios. It empowers MTO and Payment Solution providers by providing them necessary functionalities to smoothen their tasks. It comes with standard KYC modules, EU compliance and auto ID card identification module. These built-in modules do the following tasks:
Caters all compliance and ledgers
Covers the daily financial needs of various well-known companies
Takes care of reconciliation and dynamic reporting processes
Helps handle treasury and stocks better
XFAR has crossed a milestone of processing 70 million transactions in 2021 and is all set to go even bigger. The solution suite has modern interfaces for web, Android and iOS.

All the apps developed by the company ensure a good user experience, better operating, efficient working, and a flawless user interface. All of these features combined get you a 5-star rating coupled with happy and satisfied customers. If that is all you desire, get in touch will the Origami Studios today and get yourself an unbeatable fintech app.

A Quick Wrap-Up

The industry of fintech is not really old, but it has already done many wonders for humanity. We can see multiple fintech mobile apps helping businesses understand their users better, grow closer to them, and earn a better profit by selling their services efficiently. The journey of the fintech apps does not end here as they are going to stay for a longer time. We will be getting to see new features in the fintech apps in the future. These features promise to make the experience of the user better and aid companies in having happy and satisfied customers.

It is only beneficial to invest in fintech mobile app development today as they can help you have a business that is meant to bloom more. There are dozens of opportunities for you to figure out for your fintech app. All you have to do is to see a gap in the market, study the needs of your users, and have an app developed and launched. It will not take you much time to gain customers given the growing importance and need of the users. How will you have an app developed through? Do you have a budget in mind or need some assistance?